United States Steel Co. (NYSE:X) to Issue Quarterly Dividend of $0.05

United States Steel Co. (NYSE:X) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Investors of record on Monday, November 11th will be paid a dividend of 0.05 per share by the basic materials company on Wednesday, December 11th. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date is Friday, November 8th.

United States Steel has increased its dividend payment by an average of 71.0% annually over the last three years. United States Steel has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect United States Steel to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.8%.

United States Steel Trading Up 8.3 %

Shares of NYSE:X opened at $42.31 on Thursday. The business’s 50-day moving average is $36.65 and its 200 day moving average is $37.71. United States Steel has a 1 year low of $26.92 and a 1 year high of $50.20. The firm has a market capitalization of $9.53 billion, a P/E ratio of 27.84 and a beta of 1.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The company’s revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 earnings per share. On average, research analysts predict that United States Steel will post 2.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a report on Monday, September 9th. BMO Capital Markets cut their price objective on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com started coverage on United States Steel in a report on Monday, August 19th. They issued a “hold” rating on the stock. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Friday, September 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, United States Steel has an average rating of “Moderate Buy” and an average target price of $42.80.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.